Summary: Upper Trinity Regional Water District, Texas; Water/Sewer

S&P Global Ratings revised its outlook to stable from positive and affirmed its 'A+' rating on Upper Trinity Regional Water District (UTRWD), Texas' outstanding bonds issued for the Lakeview regional water reclamation system. We also assigned our 'A+' rating to the district's series 2020 regional wastewater treatment system revenue bonds, also issued for the Lakeview system. The outlook revision is based on what we view as recessionary pressures facing all of the district's participants, which leads us to believe that it is unlikely their respective underlying credit quality will improve over the next two years. A first-lien net revenue pledge of the district's Lakeview system secures the bonds. The system provides wholesale wastewater collection and treatment services to the cities

...S&P Global Ratings revised its outlook to stable from positive and affirmed its 'A+' rating on Upper Trinity Regional Water District (UTRWD), Texas' outstanding bonds issued for the Lakeview regional water reclamation system. We also assigned our 'A+' rating to the district's series 2020 regional wastewater treatment system revenue bonds, also issued for the Lakeview system. The outlook revision is based on what we view as recessionary pressures facing all of the district's participants, which leads us to believe that it is unlikely their respective underlying credit quality will improve over the next two years. A first-lien net revenue pledge of the district's Lakeview system secures the bonds. The system provides wholesale wastewater collection and treatment services to the cities of Highland Village and Corinth, the towns of Double Oak and Bartonville, the Lake Cities Municipal Utility Authority (LCMUA), and Denton County Fresh Water Supply District No. 7. Participants provide a gross...

Summary